298
1 Mr. W. A. Cruickshank. ! 2 Mr. E. M Bishop. POLO PONY SCURRY.-For bona fide polo- ponies, the property of playing members of the Polo Club. From quarter-mile post. in. Owners up. Catch weights, over 11 st 7 lbs. An owner entering more than one pony and riding one himself or unable to ride the weight to be at liberty to ask another playing member of the Polo Club to ride for him. Weights to be raised if necessary to 11 st 12 lbs. Six to
start or no race.
1 Mr. W. A. Crnickshank'.. 2 Mr. R. J. Cumming's
3 Hon. T. H. Whitehead's
Major A. B. Hamilton'< Captain S. Jones' Captain Warren's Hon..T. H. Whitehead's
Time, 95 secs.
Treucie. (Owner) Puddy. { Tiny Fuckas
}
Mr. Ball-Acton)
Hing O.
Quartz (owner)
Wallorou i Byculla
}
(Major Gwynne
OFF-SADDLING RACE.-Best of three hals: start in sddle from somewhere near the mile post with saddle properly girthed with two single girths: first past the post oftenest with saddle in hand and girths attached wius no contrivances for slipping girths allowed- Six to compete or no event. 1 Mr. A. Campbell
MacMillau
Mr. E. M. Bishop Mr. P. A Cox Captain Loring. R A.
2 Mr. E. C. Pontifex
Mr. W. A. Cruickshank Captain Warren
Mr. H. A. MacIntyre
THE ECLIPSE STAKES OF 10,00 COPPER CASH OR CUPS FOR FIRST AND SECOND- Presented by H. N. Mody. Esq. Scratch to start at the mile post. Each competitor sends in name and description of horse or pony to be entered by him with the weight to be carried. Riders are notified that they will be required. to weigh out at not less than the specified weights. No chyɛction to be raised to carrying overweight.
vards. 1 Mr. MacIntyre's Flying For. 10st 5lbs 375
Capt. Warren's West Australian, 11st 7lbs 3 Mr. Gunner's Sir Berys, 10st 11lbs Mr. P. A. Cox's La Fleche. 10st 8lbs
75
35
Scratch yards.
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THE HONGKONG WEEKLY PRESS AND
for under Article XXVII of the Treaty of Tientsin, but was unaware. that the Chinese Governmont had given, within six months after the expiry of the fourth decade the formal notice then due in terms of the Article in question.
A precedent for the revision of the Tariff by means of a Treaty may be found in Article: XXVI of the Treaty of Tientsin which revises
! the Tariff fixed by Article X of the Treaty of Nanking on the identical ground on which revision is called for to-day.
!
[October 7, 1901.
illegal obstacles to and exactions on their trade with the interior remain unrelieved.
I have the honour to be, My Lord.
Your Lordship's obedient humble Servant,
(Signed) A. R. BURKILL. Hon. Secretary, China League.
The Most Honourable
The MARQUIS of LANSDOWNE, K.G.
Secretary of State for Foreign Affairs.
FINANCES OF THE STRAITS SETTLEMENTS.
The Financial Report and Statements for 1900, just laid before the Strait Legislative' Council. are signed by Mr. F. G. Penney, the The actual revenue, as Colonial Treasurer.
The desirablility of the improvement of the approaches of the Peiho and Yang!sze Rivers may be great from a local point of view. In expressing its opinion on the inadequacy of such neesions in return for increased import duties, the China League had in mind the
per the year's accounts, was $5,388,556 against interests of the whole commercial community at
an outlay of 86,030,740. The revenue was over hgo end abroadd interested in the China Trade. 8281,430 in excess of the amount estimated, and I would point out that the increased import¦ over 8186,531 in excess of the revenue for 1899. ups are leviable on the traders of all the
The heads of revenue which are generally Treary Ports in China, while the benefits accord-regarded as indicative of the prosperity of the iner from the conservancy of the Rivers Peiho Colony such as land rents, port dnes, postage. and Yangtze fall to the traders and landowners fees of office, district collections, and revenue | of Tientsin and Shanghai al pe, If for this stamps shop substantial increases over the reason only, the concession appears to the China figures for 1899. Instead of the estimated League to be inadequate and inappropriate. deficit of $752,172, there was an actual deficit
I have the honour to be. My Lord,
of 8645.187 on the revenue over expenditure as Your Lordship's obedient humble servant. corrected for arrears, which sum represents the
(Signed) A. R. BURKILL.
decrease in the credit balance of the Colony, Hon. Secretary, China Leagne,
the figures being as follows:-
The Most Honourable
The MARQUIS of LANSDOWNE, K.G.,
Secretary of State for Foreign Affairs,
The China League, 20th August, 1901. MY LORD. It has been represented to the China League that some harship and loss will inevitably fall upon traders in China if, as has been stated, the increased import duties are leviable on all merchandise shipped from hence 10 days after signing of the Protoral.
It is pointed out to the China League that a very large proportion of the import business in China is now carried on by means of forward contracts." ¿e, merchants in China buy from manufacturers and others in Europe goods for delivery on certain specified future dates six or nine mouths ahead as the varying tious of the China markets require; that usually on conclusion of such contracts the foreįga merebant sells to the native dealer on similar conditions as to delivery of goods, and the native dealer makes his arrangements to supply his markes in the interior. Further, that as a partial increase in the duty was certainly not 300
expected, and as an increase to 10 per cent.. 320 was understood to be contingent on drastie 320 reforms. most of the contracts now running were made on the old basis of duty and loss | cansed by an increased duty will have to be | borne by the foreign merchants.
The raising of the Import Tariff to an means an increase of effective 5 per cent.
Mr. Lewis's Jeddah, 1st 8lbs Hon. T. H. Whit-head's Ormonde, 11st 4lbs 120 Mr. R. M. Cumming's Manifesto, 11st 4lbs 130 Mr. C. W. Dickson's Merry Hampton,
11st 7lbs 250 Mr. L. J. C, Anderson's Diamond Jubilee,-
11st 5lbs 270 Capt Jones Bend Or. 11st lbs...
270 Mr. C. A. Ball Acton's Gultee More, 11st... 290 Mr. Sugden's Persimmon, 5st 6lbs Mr. M. R. C. Nanson's The Lamb. 11st Mr. A. B.. Garnett's Ormr. 14st 5lbs Capt. Warren's Diomed, 13st
420
THE CHINESE IMPORT DUTIES,
fine cotton go ds, and if it is to be levied on all outstanding contracts will entail heary losses.
We published on the 26th ult. a copy of a letter on the above subject received by the Hononr-3 per cent. in the duty on some classes of uble Secretary of the China League from the Foreign Secretary. The Hondurable Secretary of the China League sends us the following two letters, which continue the correspon
dence
The fact that the Imperial Government of China require funds to meet obligations im posed upon them as a penalty for their wrong The China League, 15th August, 1901. doing, does not justity any unnecessary loss MY LORD, I have the honour to acknow-being imposed on British traders. ledge receipt of your Lordship's letter of 12th Augu-t.
With reference to statements made in my letter of the 2nd August, your Lordsbip draws attention to Articles XVI and XVII of the Treaty of Tientsin. Presumably, XXVI and XXVII are meant.
Reference to my former letters will show your Lordship that the China League has always been careful to admit the justice of China's claim under Article XXVI of the Treaty of Tientsin to an effective 5 per cent. import tariff, but has ventured to insist on the incontestable right of British Traders to an effective Transit Pass System under Article XXVIII in return for increased Import
Duties.
The China League is gratified to learn that His Majesty's Government do not der from it as to the necessity of enforcing this latter clause, and, therefore, leaves the matter in your Lordship's hands with confidencé.
The China League is well aware that periodi- cal revision of the Tariff of 1858 is provided
In presenting these facts, I think the League is justified in asking your Lordship to give every possible consideration to these repre sentations and as full a period of
graco for the above described contracts us is consistent with justice and fair dealing.
The principle of the exemption of bona fide contracts existing at the time of the imposition of a new duty was admitted. I believe, in the cases of the Silver Duty in India and of the Coal Duties in this country.
In espousing the cause of the China mer- chants. the I eagne would venture to recall to your Lordship's mind the facts that for many months in 1900 their lives were in danger, that instances. been their property has, in man destroyed, that unmerited losses and curtailuent of business have come to everyone in the trade solely and entirely by reason of the indefensible acts of the Imperial Government of China; that, at the moment of imposing extra duties, all the grievences of these merchants against the Chinese remain unremedied and all the
i
!
Balance on 1st Jan. 1900 Balance on 1st Jan. 1:01
Decrease
Dependencies under assets:---
1st Jan. 1900... 1st Jan. 1991...
$2,698,065 2,059,378
8638,687
$11,000 38,500
5,500
8644,187
The cash balances on the 1st Jan., 1901, includ- ing the silver held in reserve against currency notes, amounted to $4,967,643.48. Deducting the amount of the silver reserve ($4,303,913.11) the balance was $663,730.37, which is less than the balance of the previous year by $418,152. This balance does not include copper coin to the value of $99,650 for which a separate account is kept
The
The value of Government currency notes in circulation at the close of 1900 was $6,205,000 as compared with $4.165,000 for he preceding year. The average monthly circulation for he past two years has been $2,330,555 and $5,500,250 respectively. The coin reserve had risen from $2,777,000 to $4.403,913, for 1889 and 1900 was:-1899, 88,082,210; 1900, average monthly circulation of the local Banks 9.713,132. The decrease is mainly due to the Hongkong and Shanghai Banking Corporation steadily withdrawing its local issue. The value of the British dollars imported by the local Banks in 1899 and 1900 respectively was as follows:-1599, $29,349,735, 19.0, 21,571,448.
The report urges an increase in the establish- ment of the accountant's department to overtake arrears of work.
The Suifu correspondent of the Echo de Chine, writing nuder date 29th August, says: --The Woodcock has been here for four or. five days with the British Consul from Chung- king, who has already left for Pnichan. It is the intention to take the boat up as far as Kisting, a distance of about 150 kilometres, but the navigation is more difficult than that of the main river because of the caprices of the stream (Fuho), whose banks of sand change incessantly. From Kiating the party will return to Chentu by land.
The Peninsular and Oriental Steam Naviga- tion Company are advertising their passenger programme for the next season. The s.s. Orien- tal, leaving on 29th March. 1902, and the Malta leaving oh 12th April, will proceed through to London direct via Colombo, without trans- shipment. The Oriental, is a sister ship to the Peninsulur, and is a great favourite with the passengers, having been specially Indian desigued for tropical waters: while the Malla is a vessel of over 6,000 tons, built five years ago, and has very comfortable accommodation. The steamers will no doubt be well patronised.
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